§ 10-125

Maryland § 10-125

• Jurisdiction: Maryland
• Article gec: Economic Development
• Title: 10

Text

(a) The Corporation may:

(1) lend or otherwise make available the proceeds of bonds to a person to finance costs of a project; and

(2) enter into financing agreements, mortgages, and other instruments that it determines are necessary or desirable to evidence or secure the loan.

(b) (1) The lease for a project may require or authorize the lessee or another person to purchase or otherwise acquire the property for consideration that the Corporation establishes, when:

(i) the principal of and interest on the bonds that financed the cost of the project are paid; or

(ii) provision satisfactory to the Corporation is made for their payment.

(2) Consideration required under paragraph (1) of this subsection may be nominal.